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Are you having difficulty or unsure about how to save money? Don’t stress it; these issues are not unique to you. Saving money does not have to do with how much you are making, or else we would always have excuses not to save. No-matter the amount you make, it is important to intentionally practise financial planning by saving a portion of your salary or income, as it prepares you for a strong financial future. In this article, you will…

Recessions are always dreaded because of the cost implications and spill over effect it has on the economy, businesses and individuals, which alters their behaviours. It is a time of increased level of unemployment; decrease in real GDP, Increase in prices (inflation), depreciation of currency etc. Although it is a tough situation, there are still people who thrive in recessions and there are opportunities for building and creating wealth. This post will share 6 ways to act differently during a…

Life can get very busy; sometimes we wish we had more time a day to get things done right? Well, we only have 24 hours a day but we can do more with less time using our Mobile phones. Mobiles phones can be a distraction but there are ways to optimize its use to boost your work and life productively. Let’s discuss some of these ways: 1. Reminders and Schedulers: Planning is paramount to achieving set goals and keeping track…

When the history of mobile payments is written,it is worth recognizing the efforts of a small team at Fortis Mobile Money,working against a near-impossible deadline with an incredibly challenging set of requirements. In years to come, as our children pay with the latest computing device without a second thought, it is likely this group will have played an important part..…

It is no longer news that the Central Bank of Nigeria (CBN) has blocked money transfer operators from making transfers to Nigeria. Through the new policy, the CBN excluded a number of operators and only allowed for three companies – Western Union, MoneyGram and Ria to remain in the business. Experts had predicted this outcome as the CBN last year tightened the conditions on mobile money transfers, requiring operators to be operational in 20 countries, have a net worth of…

(1) Mobile money contribution may be small compared to current Mobile Network Operator (MNO) total revenue but could be important for future revenue growth. We believe few operators will ever meet the high expectations they have for mobile money. 80% of respondents to our survey last year expected mobile money to comprise 10% of total MNO revenue within five years of launch. 10% is small but we don’t think it is something to sneeze at. For a number of mobile…

PART 2: INTRODUCTION Placement (placement, moving the funds from direct association with the crime) is the first stage in money laundering where the cash proceeds of criminal activity enter into the financial system. This is most critical stage for any money launderer as the criminal can effectively mask his ‘dirty’ funds by commingling ( The term commingling is most often applied to funds or assets. Where funds are mixed or blended) his ‘clean’ funds and create an aura of legitimacy. Examples…

What is Money Laundering? INTRODUCTION : PART ONE The Three Stages in Money Laundering Money Laundering is the process of taking ‘dirty’ funds and converting it into ‘clean’ funds. ‘Dirty funds’ are criminally-derived proceeds which are then converted into other assets so that they can be reintroduced into legitimate commerce in order to conceal their true origin or ownership – ‘clean funds’ Money laundering can’t happen without banks being involved somewhere within the three stages. Since they are our first…